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Franchise Investing | Consider These Pros and Cons Before You Invest

Posted by Jim on Aug 28th, 2012 · 0 Comment

Anyone who saw the movie “The Blind Side” got a look at the dream world of investing in and owning a franchise. If you didn’t see the movie, it’s the story of a white family in the South rescuing a gifted African-American football player from the ghetto by taking him into their home and enrolling him in a private school. This family was able to do that because the father owned several fast-food...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Franchise Investing | Consider These Pros and Cons Before You Invest

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Critical Financials’ Basic Personal Finance Rules

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